Tesla Adds Larry Ellison to Its Board


Tesla has appointed Oracle co-founder Larry Ellison and Walgreens Boots Alliance executive Kathleen Wilson-Thompson to its board.

The move further strengthens the board as pledged by founder Elon Musk to the Securities and Exchanges Commission.

The SEC fined Mr Musk over misleading tweets that he had funding to take Tesla private.

Investors greeted the news by sending Tesla shares up more than 4% in morning Friday trading.

Elon Musk remains as chief executive although he agreed with the SEC in October he would step down as chairman.

Larry Ellison is the co-founder and chairman of enterprise cloud software firm Oracle – currently the third largest software maker in the world after Microsoft and Google owner Alphabet.

He already owns three million shares of Tesla stock and is a close friend of Mr Musk.

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